The 28 Olympic sports federations have taken a big financial hit due to the postponement of the Tokyo Olympics by a year, but even if the Games were cancelled they would not be at risk of bankruptcy, the executive director of the international federations’ association said, Reuters reported. The 2020 Games have been rescheduled for July after being put off due to the coronavirus outbreak, though there remains a risk they could be cancelled if the pandemic worsens. “We are all committed to delivering the Olympic Games this year,” Andrew Ryan, Executive Director of the Association of summer Olympic international federations (ASOIF), told Reuters. “But if the very worst comes to the worst of course federations would suffer. Some budgets would have to go. But by and large federations would not declare themselves bankrupt.” All Olympic federations receive a chunk of cash after each Games, based on the size and popularity of their sport. The funding model used to determine their share of the revenues delivered by the International Olympic Committee divides the sports into five groups. Top sports such as athletics, gymnastics and swimming receive about $40 million in group A, while smaller sports such as modern pentathlon and new Olympic sports — rugby and golf — end up with about $14 million in group E. That cash injection has now been delayed by a year.
